Buying in London: What You Need to Know

London’s property market has its own rules. Leasehold arrangements, building safety requirements, and stamp duty thresholds that bite earlier than anywhere else in the country mean buyers face challenges that don’t apply in most of the rest of England and Wales. Getting to grips with the legal landscape before you start can save you significant time, money, and stress.

Reviewed by Ada Oliva, Consultant Property Solicitor, Setfords Published: 3rd July 2026, Last reviewed: 3rd July 2026, Read time: 7 minutes

Key takeaways

• Most London flats are leasehold. A lease below 80 years can affect your mortgage and the property’s resale value, so check this early.
• If you’re buying a flat, your conveyancer will need to check whether building safety or cladding issues apply, unresolved problems can delay or block a sale.
• Management packs from landlords and managing agents are one of the most common causes of delays in London transactions.
• London’s high property values mean stamp duty costs can be significant, and first-time buyer relief has a hard ceiling of £500,000.
• Long chains are common in London. Proactive communication between your solicitor, estate agent, and mortgage broker is usually the single biggest factor in keeping things moving.

What makes London different?

Buying in London is conveyancing on hard mode. The same legal process applies as anywhere else in England and Wales, but several features of the capital’s property market add layers of complexity that buyers elsewhere rarely encounter.

Most flats are leasehold rather than freehold, building safety checks have become a standard part of the process since the Building Safety Act 2022, and property values frequently push buyers into higher stamp duty bands or beyond the threshold for first-time buyer relief. Chains tend to be longer, and third-party delays (from managing agents in particular) are a well-known feature of the market.

None of this should put you off buying in London. It does mean that choosing an experienced conveyancer, and understanding what’s involved before you start, makes a real difference.

Does London’s leasehold system work differently?

Much of London’s housing is leasehold. When you buy a leasehold property, you own it for a fixed number of years, but the land remains owned by a freeholder. Service charges and ground rent are usually payable on top of your mortgage.

Lease length is one of the most important things to check. A lease below 80 to 90 years can significantly affect both the value of the property and whether a lender will offer a mortgage on it. Extending a lease involves a formal legal process and can be costly, and many buyers are caught off guard by this at the outset. The Leasehold and Freehold Reform Act 2024 has made the process more streamlined, but the financial premiums involved remain a major consideration.

Share of freehold is also common in London, particularly in converted buildings. This means you jointly own the freehold of the building alongside the other flat owners. It gives you more control over how the building is managed, but it comes with its own rights, obligations, and legal paperwork.

Your conveyancer will check the lease terms, service charge history, ground rent arrangements, and any related obligations as part of their standard enquiries.

What is an EWS1 form, and do I need one?

Building safety has become a central part of the conveyancing process for flats in London following the Building Safety Act 2022. Mortgage lenders are particularly cautious about cladding and fire safety issues, and in some cases will require an EWS1 (External Wall System) form before they will lend on a property.

An EWS1 form confirms that the external wall system of a building has been assessed and meets safety standards. Where remediation work is needed, your conveyancer should establish who is responsible for costs before you reach exchange of contracts.

Unresolved building safety issues can delay a transaction for months, or prevent it from completing altogether if a lender refuses to proceed. This is something to ask about early, particularly on flats in medium or high-rise blocks built or refurbished in the 1980s, 1990s, or 2000s.

Why do management packs cause delays?

For leasehold purchases, your conveyancer will need a management pack from the landlord or managing agent. This typically includes the LPE1 form (Leasehold Property Enquiries), service charge accounts, building insurance details, and information about any planned major works.

Managing agents in London are notoriously slow to respond to these requests, and delays here are one of the most consistent causes of extended timelines in London transactions. This is worth factoring into your plans from the outset: management packs can take several weeks to arrive, and the information in them can prompt further enquiries.

Proactive communication between your conveyancer, estate agent, and mortgage broker from the start of the transaction can make a real difference to how smoothly things progress.

Are there restrictions on what I can do to a listed building or property in a conservation area?

Many London neighbourhoods fall within conservation areas, particularly historic districts such as Kensington & Chelsea, Westminster, and parts of Hackney. Conservation area status limits what external changes can be made to properties, and in some cases affects permitted development rights.

If you’re buying a listed building, the restrictions go further. Even internal alterations can require listed building consent, and a lack of consents for past works can create problems on resale or with mortgage lenders. Your conveyancer will carry out thorough checks as part of their enquiries, but it’s worth raising with your estate agent at the outset if you’re looking at older properties in historic areas.

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How much stamp duty will I pay in London?

London’s high property values mean stamp duty land tax (SDLT) can be a significant cost. SDLT works in tiers, so you pay a different rate on each portion of the purchase price.

On a property costing £1 million, for example, the calculation works as follows:

• 0% on the first £125,000
• 2% on the next £125,000
• 5% on the portion from £250,001 to £925,000
• 10% on the remaining £75,000

If you’re buying an additional property, a 5% surcharge applies on top of the standard rates. As of April 2026, a 2% surcharge also continues to apply to non-UK residents, which can combine with the additional property surcharge to result in significantly higher rates for overseas investors.

First-time buyer relief has important limits in London. The nil-rate threshold is £300,000, and relief only applies to properties up to £500,000. Buy at £550,000 and the relief is lost entirely, with standard rates applying to the full amount. SDLT calculations also become more complex for main residence replacements, company purchases, and mixed-use properties. Early advice from your conveyancer is worth having.

What makes London chains particularly difficult?

Long chains are a feature of the London market. A typical transaction may involve several buyers and sellers all proceeding simultaneously, with each dependent on the others completing on time. Delays can stem from mortgage approvals, slow third-party responses, or problems on the seller’s side that have nothing to do with you.

Proactive communication between your conveyancer, estate agent, and mortgage broker is usually the single biggest factor in whether a chain holds together. Your conveyancer should be chasing progress at each stage, not waiting to be chased.

What can slow a London transaction down?

Short or defective lease: A lease below 80 years, or one with onerous terms, can cause lenders to withdraw or require a lease extension to be negotiated before exchange. This adds time and cost.

Building safety issues: Outstanding cladding or fire safety remediation, or a missing EWS1 form, can stall a purchase for months while investigations are carried out.

Slow managing agents: Management packs and LPE1 responses from landlords and agents are a chronic source of delay in leasehold transactions.

Conservation or listed building queries: Missing historic consents for past works can require retrospective applications or specialist insurance, both of which take time.

Chain complications: Problems elsewhere in the chain, particularly if a buyer loses their mortgage offer or a seller pulls out, can affect your transaction even if your own position is straightforward.

What can help keep things on track?

Instruct early: Appoint your conveyancer as soon as your offer is accepted, not once the paperwork arrives. The earlier your solicitor can start, the better.

Ask about the lease length upfront: Before you make an offer on a flat, ask the estate agent for the current lease length. If it’s below 90 years, factor extension costs into your budget.

Request the management pack promptly: Your conveyancer should request the management pack from the managing agent on day one of the transaction.

Keep the chain connected: Make sure your conveyancer, estate agent, and mortgage broker are all in contact with each other and aware of the timeline. You shouldn’t be the one passing information between them.

Budget for the full picture: Beyond the purchase price, factor in SDLT, conveyancer fees, survey costs, and (where relevant) lease extension premiums or service charge arrears.

When to speak to a solicitor

London property transactions can move quickly once a sale is agreed, and early legal advice puts you in a much stronger position. It’s worth speaking to a solicitor if:

• You’ve had an offer accepted and need to instruct a conveyancer
• You’re buying a flat and want to understand the lease terms before committing
• You’ve been told the building has cladding or fire safety issues
• You’re a first-time buyer unsure whether you qualify for SDLT relief
• You’re in a chain and experiencing unexplained delays
• You’re buying in a conservation area or considering a listed building

Speak to our conveyancing team for a confidential, no-obligation conversation. Or get a fixed-fee conveyancing quote today.

FAQs

Is it harder to buy a flat in London than a house?

Leasehold flats involve additional legal steps that freehold purchases don’t, including reviewing the lease, obtaining management packs, and (where relevant) checking building safety compliance. This doesn’t make a flat purchase impossible, but it does tend to take longer and requires more thorough legal due diligence.

How long does conveyancing take in London?

Leasehold transactions in London typically take longer than the national average. A straightforward purchase can take 10 to 14 weeks, but complex leasehold cases, building safety issues, or long chains can extend this to six months or more.

What is an LPE1 form?

The LPE1 (Leasehold Property Enquiries) form is completed by the landlord or managing agent and provides key information about the property, including service charges, buildings insurance, planned major works, and any disputes. It’s a standard part of leasehold conveyancing and is requested by your solicitor early in the transaction.

Can I still get first-time buyer stamp duty relief in London?

Yes, if the property costs £500,000 or less. The nil-rate threshold for first-time buyers is £300,000, with a reduced rate applying up to £500,000. Above that, standard rates apply to the full purchase price. Given London’s price levels, many first-time buyers find themselves at or close to this ceiling.

Do I need a specialist conveyancer for London?

You don’t need a London-based conveyancer, but you do need one with experience of leasehold transactions and familiarity with the issues common in the London market, including building safety checks, long chains, and managing agent delays.

About the author

Ada Oliva is a commercial and residential property solicitor at Setfords, qualified since 2019 with a career rooted in London and the south east. She has broad experience across freehold and leasehold transactions, lease extensions, new builds, and shared ownership, and is known for a friendly, proactive approach with clients who are navigating the conveyancing process for the first time. This guide was last reviewed in July 2026.

This article is general information about buying property in London, England and Wales and is not legal advice. The law, tax thresholds, and timescales can change, and every situation is different. Please speak to a qualified conveyancing solicitor about your own circumstances.